THE BRITISH FRANCHISE ASSOCIATION


THE UK' S VOLUNTARY S ELF - REGUL ATING GOVERNING BODY FOR FRANCHI SING


PIP WILKINS Chief Executive, bfa


Make the most of your visit I


f you are looking into a franchise investment, you will need to seriously consider whether franchising is right for you. Thorough research on the different concepts available is


essential to help you narrow down your options and find the right fit. Which is why visiting a franchise exhibition is a valuable part of the process. The sector is so varied, it is important that you approach your search for a franchise in a structured way. Having so many brands together under one roof makes an exhibition a great place to meet face-to- face with a number of franchisors, and their franchisees, to discuss your suitability for their business. Plus, a good franchisee understands franchising, so attending a franchise exhibition shows you are taking your research seriously!


What to ask… The first step to take is to look through the show guide, identify the brands you want to meet and plan your time. Don’t just stick to sectors you already know, either – widen the net and look at a variety. Franchisors offer the training needed to run the business, so you don't necessarily need experience in the industry you join. Regards finance, you need to carry out a realistic assessment. At exhibitions there


are franchise-specialist lenders, lawyers, and accountants to advise you. Take note of companies that are bfa


members. Established almost 45 years ago by a group of leading franchisors, the bfa is a voluntary self-regulating body set up to introduce good practice into franchising. Our members have chosen to be accredited against a strict set of criteria and with over 300 franchisor brands in membership, there is plenty to look at!


“Attending a ra chise ehibiti shs re seris


What are franchisors looking for? You’ll need to be passionate about the product or service you are looking to invest in. There will be long hours and hard work to get the business up and running so good franchisors want to know their franchisees share their passion to drive the business forward, even in the toughest of times. They will also be looking for people who


are system-oriented with a partnership mentality. Franchisors spend a lot of time and money developing, refining, and testing their business model and so


they’re not seeking anyone who wishes to reinvent the wheel. Good people and communication skills are often desirable; as a franchisee, you may need to manage staff, build trust, and motivate your team to get the very best from them. And in any business there is also a need for some element of sales skill. You do not have to be a natural born salesperson, but you need to be comfortable with selling you and your brand to the end user. The good news is that this is an area where franchisors usually offer plenty of support. To help you assess your options, the bfa


run free seminars during the exhibition. ‘How to evaluate franchise opportunities’ is perfect for prospective franchisees wanting to learn more about key considerations and recommended due diligence that should take place before investing in a franchise. Those looking to expand their existing operations through franchising will benefit from the ‘How to franchise your business’ seminars held on both days of the show. The bfa has its own stand, too. So,


whatever stage of your franchising journey you are at, make sure you come and say hello to the team and talk to us about how we can support you. 


thebfa.org BUSINESSFRANCHISE.COM 13


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